{"id":103665,"date":"2019-02-04T10:12:03","date_gmt":"2019-02-04T03:12:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-reports-robust-financial-results\/"},"modified":"2019-02-04T12:05:30","modified_gmt":"2019-02-04T05:05:30","slug":"singhaiyi-reports-robust-financial-results","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-reports-robust-financial-results\/","title":{"rendered":"SingHaiyi reports robust financial results"},"content":{"rendered":"


\nThe Group acquired the Sun Rosier condominium off Bartley Road for $271 million in 2017. (Photo: Google Maps)
\nThe value of SingHaiyi Group\u2019s development properties nearly doubled from $268.5 million as of 31 March to $525.8 million as at 31 December last year, according to the developer\u2019s latest financial statement.
\nThe stellar growth is credited to the completion of the en bloc purchase of the former Sun Rosier condo in 5A How Sun Drive during the financial period.
\nIts subsidiary SingHaiyi Properties and joint venture partner Huajiang International acquired the 78-unit freehold condo for $271 million in September 2017.
\nAccording to SingHaiyi Group, they intend to redevelop the project into a 250-unit condominium known as The Gazania. Located near Bartley MRT station, the new condo is expected to be completed by the first half of 2022.
\nMeanwhile, an SGX filing on Friday (1 Feb) showed that the group\u2019s revenue declined significantly by 62 percent to $15.81 million in the third quarter ended 31 December 2018 compared to about $41.65 million during the same period a year ago.
\nThe huge drop is mainly attributed to lower contributions from completed private condo City Suites, and completed executive condominium (EC) The Vales, of about $9 million and $28.7 million respectively.
\n\u201cThis was offset by the sales of the group\u2019s completed commercial condominium project, Vietnam Town phase 2 units of $11.9 million,\u201d said the Singapore-based developer.
\nFurthermore, the company\u2019s net profit also increased year-on-on-year from $1.93 million to $4 million during the period under review.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…SingHaiyi reports robust financial results<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Group acquired the Sun Rosier condominium off Bartley Road for $271 million in 2017....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-103665","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qY1","jetpack-related-posts":[{"id":67336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-sold-en-bloc-for-271m\/","url_meta":{"origin":103665,"position":0},"title":"Sun Rosier sold en bloc for $271m","date":"September 25, 2017","format":false,"excerpt":"\r Each owner is expected to gain around $2.86 million to $4.77 million from the sale. (Photo: Google Maps) In the latest en bloc sale, SingHaiyi Group has acquired Sun Rosier condominium at 5A How Sun Drive off Bartley Road for $271 million, up 15.3 percent from its $235 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106131,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-gazania-and-the-lilium-to-preview-on-thursday\/","url_meta":{"origin":103665,"position":1},"title":"The Gazania And The Lilium To Preview On Thursday","date":"April 16, 2019","format":false,"excerpt":"\r Artist\u2019s impression of The Gazania. SingHaiyi Group is set to open the showflats for its twin freehold residential developments \u2013\u00a0The Gazania and The Lilium \u2013 for preview on Thursday (18 April). Located close to each other, The Gazania on How Sun Drive comprises seven five-storey blocks with 250 units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76392,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-condo-sold-en-bloc-for-840-89m\/","url_meta":{"origin":103665,"position":2},"title":"Park West condo sold en bloc for $840.89m","date":"January 12, 2018","format":false,"excerpt":"\r Third time\u2019s a charm. The owners of Park West have finally succeeded in selling the condominium via collective sale after two previous attempts which ended in failure. According to an SGX filing on Thursday (11 January), the residents accepted an $840.89 million offer from SingHaiyi Gold Pte Ltd, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-sun-park-sold-for-81-09mil\/","url_meta":{"origin":103665,"position":3},"title":"How Sun Park sold for $81.09mil","date":"November 29, 2017","format":false,"excerpt":"\r How Sun Park, a freehold three-storey development comprising 20 units, has been sold for $81.09 million to a SingHaiyi Group subsidiary, SingHaiyi Huajiang Amber Pte. Ltd. The property has a site area of around 5,104.3 sq m and a gross plot ratio of 1.4. Inclusive of an estimated development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-gazania-offers-buyers-a-freehold-property-on-the-city-fringe\/","url_meta":{"origin":103665,"position":4},"title":"The Gazania Offers Buyers A Freehold Property On The City Fringe","date":"December 9, 2022","format":false,"excerpt":"\r The Gazania Offers Buyers A Freehold Property On The City FringeProperty buyers in search of a sizeable freehold project on the city fringe with the convenience of having an MRT station within walking distance should have The Gazania on their radars. Known for being a well-established mature residential estate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/12\/The-Gazania-1.jpg?fit=602%2C361&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":106542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-2000-turn-up-at-the-gazania-and-the-lilium-review\/","url_meta":{"origin":103665,"position":5},"title":"Over 2,000 Turn Up At The Gazania and The Lilium review","date":"April 25, 2019","format":false,"excerpt":"\r About two-thirds of the 2,000 visitors had made prior appointments with agents for their visits, while the rest were walk-in visitors. SingHaiyi Group\u2019s twin residential developments \u2013 The Gazania and The Lilium \u2013 received robust interest during their preview over the recent long weekend with more than 2,000 people\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/103665"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=103665"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/103665\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=103665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=103665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=103665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}